Brazilian Lubricants Market
The Brazilian Lubricants Market performed poorly in January 2022, with an 8% drop compared to December last year. If we consider the performance of January 2021, the drop was much sharper, reaching 18.6%. The poor performance followed in the wake of automotive production, which fell 27.4% compared to January 2021.
The volume of lubricants sold in January 2022 was 98,681 m3, with Vibra Energia taking the lead with a market share of 18.32%, followed by Iconic with 15.1%, Moove with 14.7%, Shell with 11.9% and Petronas with 7.4%.
Some factors were very impacting for this poor performance. Several automakers have taken extended vacations, the shortage of electronic components continues and the omicron variant has also had a negative effect on the workforce, causing a very high rate of employee absenteeism.
This direct relationship with the automotive industry can be seen when we observe the drop in volumes of lubricating oils for the Diesel cycle and the Otto cycle, which fell by 21.3% and 32.6% in relation to January last year.
With the exception of agricultural spray oils, which had a higher volume of 20.2%, due to the good performance of the agricultural harvest, all other segments showed a drop in sales, compared to January 2021.
It is still too early for a more careful projection for the lubricants market, after the excellent performance of last year, however, it is important to note that the National Association of Motor Vehicle Manufacturers – ANFAVEA works with a projection of an increase of 8.5% for this year and, also, another record production of the agricultural crop is expected. These two factors are of great importance for the evaluation of the lubricant market.
